Norway: Market for Forage Harvesters and Other Harvesting Machines 2024

Market Size for Forage Harvesters and Other Harvesting Machines in Norway

The Norwegian market for forage harvesters and other harvesting machines soared to $X in 2021, picking up by 50% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed prominent growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Exports of Forage Harvesters and Other Harvesting Machines

Exports from Norway

In 2021, overseas shipments of forage harvesters and other harvesting machines decreased by -33.3% to X units, falling for the third year in a row after two years of growth. Over the period under review, exports saw a deep setback. The pace of growth was the most pronounced in 2018 when exports increased by 152%. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of forage harvesters and other harvesting machines contracted remarkably to $X in 2021. In general, exports saw a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by 71%. Over the period under review, the exports of reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Lithuania (X units), Sweden (X units) and the UK (X units) were the main destinations of exports of forage harvesters and other harvesting machines from Norway, together accounting for 88% of total exports. Moreover, exports of forage harvesters and other harvesting machines in Lithuania exceeded the figures recorded by the second-largest exporter, Sweden, twofold.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +4.9%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for forage harvesters and other harvesting machines exported from Norway were Sweden ($X), the UK ($X) and Lithuania ($X), together comprising 87% of total exports.

Among the main countries of destination, Lithuania, with a CAGR of +82.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average export price for forage harvesters and other harvesting machines amounted to $X per unit, surging by 6.8% against the previous year. In general, the export price recorded a temperate increase. The pace of growth appeared the most rapid in 2019 when the average export price increased by 333% against the previous year. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Forage Harvesters and Other Harvesting Machines

Imports into Norway

In 2021, approx. X units of forage harvesters and other harvesting machines were imported into Norway; jumping by 36% against 2020. In general, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 72% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of forage harvesters and other harvesting machines soared to $X in 2021. Over the period under review, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 87%. Over the period under review, imports of reached the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), Denmark (X units) and France (X units) were the main suppliers of imports of forage harvesters and other harvesting machines to Norway, with a combined 57% share of total imports. Italy, Sweden, Canada, the Netherlands, the United States and the UK lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +38.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest forage harvesters and other harvesting machines suppliers to Norway were Germany ($X), the United States ($X) and France ($X), with a combined 59% share of total imports. These countries were followed by the Netherlands, Denmark, Italy, Canada, Sweden and the UK, which together accounted for a further 34%.

The Netherlands, with a CAGR of +66.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for forage harvesters and other harvesting machines amounted to $X per unit, dropping by -2.5% against the previous year. Over the period under review, import price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for forage harvesters and other harvesting machines increased by +18.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Denmark ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ireland (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :